nVerses Capital LLC Boosts Stock Holdings in CONMED Co. (NYSE:CNMD)

nVerses Capital LLC boosted its stake in CONMED Co. (NYSE:CNMD) by 566.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. nVerses Capital LLC’s holdings in CONMED were worth $144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNMD. Vanguard Group Inc. lifted its position in shares of CONMED by 1.1% in the first quarter. Vanguard Group Inc. now owns 3,456,834 shares of the company’s stock worth $276,823,000 after buying an additional 36,823 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of CONMED by 18.9% during the 2nd quarter. Earnest Partners LLC now owns 2,818,606 shares of the company’s stock worth $195,386,000 after acquiring an additional 447,498 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of CONMED by 36.1% in the first quarter. Champlain Investment Partners LLC now owns 1,303,060 shares of the company’s stock valued at $104,349,000 after purchasing an additional 345,735 shares in the last quarter. Deerfield Management Company L.P. Series C increased its position in CONMED by 86.7% in the second quarter. Deerfield Management Company L.P. Series C now owns 631,264 shares of the company’s stock worth $43,759,000 after purchasing an additional 293,099 shares during the last quarter. Finally, Cooke & Bieler LP raised its stake in CONMED by 49.8% during the second quarter. Cooke & Bieler LP now owns 628,621 shares of the company’s stock valued at $43,576,000 after purchasing an additional 209,064 shares in the last quarter.

Analyst Ratings Changes

CNMD has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $97.00 target price on shares of CONMED in a report on Friday, October 4th. Wells Fargo & Company decreased their price objective on CONMED from $77.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Stifel Nicolaus dropped their target price on CONMED from $88.00 to $76.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Piper Sandler decreased their price target on CONMED from $95.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Finally, StockNews.com raised shares of CONMED from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

CONMED Trading Up 2.6 %

CNMD opened at $66.38 on Friday. CONMED Co. has a one year low of $61.05 and a one year high of $117.27. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.13 and a current ratio of 2.34. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 0.82 and a beta of 1.46. The stock’s 50 day moving average price is $70.17 and its 200-day moving average price is $70.98.

CONMED (NYSE:CNMD) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. CONMED had a return on equity of 13.89% and a net margin of 7.73%. The company had revenue of $332.10 million for the quarter, compared to the consensus estimate of $334.39 million. During the same quarter in the prior year, the company posted $0.83 EPS. CONMED’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that CONMED Co. will post 3.99 EPS for the current year.

CONMED Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. CONMED’s payout ratio is 30.65%.

About CONMED

CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for surgical procedures worldwide. The company offers orthopedic surgery products, including BioBrace, TruShot with Y-Knot All-In-One Soft Tissue Fixation System, Y-knot All-Suture Anchors, and Agro Knotless Suture Anchors, which provide clinical solutions to orthopedic surgeons for the augmentation and repair of soft tissue injuries, as well as provides supporting products that enable surgeons to perform minimally invasive sports medicine surgeries.